words] 1. Identify areas of law addressed in the chosen media report, and explain how they are relevant to the matters outlined in the report. This chosen article reports on the prosecution of the directors of a medical practice company called Medical Centre 2000 at Liverpool in Sydney for discriminating against a visually-impaired employee and underpaying her more than $20,000 for about 3 years. Civil Law Civil law can be illustrated in this case when workplace law and disability discrimination
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About ASIC ASIC (Australian Securities and Investment Commission) is a government body in Australia which deals in the corporate markets and money related administration supplier. They give help to Australia's monetary notoriety and development by confirming that Australia's money related markets are unprejudiced and clear, moved down by hazard opposed backers and fulfilled customers. They were organized under the Australian Securities and Investments Commission Act 2001 (ASIC Act) and are additionally
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readies Tigers Defence” reports on the plan made by Virgin Australia to take a 60% stake in Tiger Airways Australia. The following laws are evident in the text. Corporations Law Both Virgin Australia and Tiger Airways Australia are large corporations which have directors, shareholders and creditors; therefore they deal with Corporations Law. The media report indicates a possibility for a large interaction between both companies. Virgin Australia plan to obtain a 60% share of Tiger Airways, making it
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Forgiving a Director’s Breach of Duty: A review of recent decisions By Steven Wong1 1 Senior Associate, Corrs Chambers Westgarth, Perth. The author can be contacted at steven.wong@iinet.net.au. 4980429v3 Forgiving a Director’s Breach of Duty: A review of recent decisions Introduction Amid fears of a global recession, directors may well be concerned that their conduct will be scrutinised should they be involved in a corporate collapse. Honest directors risk becoming embroiled in litigation
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Court of Australia Act 1999 (Cth) (formerly the Federal Magistrates Act 1999 (Cth) and the Judiciary Act 1903 (Cth) also have jurisdiction to preside over the matters contained therein . 2. Section 5 of the ADJR Act provides the right of: - a. “A person who is aggrieved by a decision to which this Act applies that is made after the commencement of this Act may apply to the Federal Court or the Federal Circuit Court for an order of review in respect of the decision on any
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Subordinate legislation also (regulations under these Acts plus ASX listing rules, statements and Guides, Accounting Standards). Finally, A lot of the important principles relating to corporations and their responsibilities have evolved via case law. The (Corporations) Act has been described as “Bloated” – why???, Moves have been made to simplify the Act, but every time this happens, something else comes in to make it bigger again! The Administrative and Enforcement bodies ASIC, Under ASIC Act
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ASSIGNMENT Directors of companies have an obligation to act in the best interests of the company. Elaborate on how the courts approach this duty and explain whether the corporation’s law in Australia has made this duty onerous. According to the common law, the duties of the directors are duty of care and the duty of loyalty. In the duty of loyalty, the directors should maintain the fiduciary relationship with the company in order to follow the fiduciary duties accompanied by them. The
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[pic] Corporation Law BULAW 5915 1/22/2013 Suneel Younis Mughal Ub 300 92 001 1.0 Corporate Governance Corporate Governance practice aim to ensure that the board is accountable to stakeholders, especially shareholders, and that management is accountable to the board (Lipton, Herzberg & Welsh, 2010).It is helpful to an understanding of corporate governance to appreciate that it is concerned with how corporate entities are governed as distinct from the way the businesses within those
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ePublications@bond Corporate Governance eJournal Faculty of Law 4-12-2007 Corporate Social Responsibility: Impact of globalisation and international business Kim Kercher Bond University, Kim_Kercher@bond.edu.au Recommended Citation Kim Kercher. (2007) "Corporate Social Responsibility: Impact of globalisation and international business" ,, . http://epublications.bond.edu.au/cgej/4 This Journal Article is brought to you by the Faculty of Law at ePublications@bond. It has been accepted for inclusion
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company directors’ responsibilities? A director of a company oversees a company on the behalf of the shareholders of the company. It is under the law stated in The Corporations Act 2001 s198A (1), “the business of the company is to be managed by or under the direction of the directors. All directors have a fundamental legal duties and responsibilities (Australian Institute of Company Directors (AICD), n.d.). A public company must have at least 3 directors (not counting alternate directors). At least
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